4 June 2014
AeroCentury Corp. (NYSE: ACY) said it has closed a new revolving credit facility.
The USD180m credit facility replaces the company´s former USD130m facility and can be expanded to USD200m. The facility has a five-year term ending on May 30, 2019. The credit facility syndication was led by Union Bank, N.A. as sole lead arranger, sole bookrunner and administrative agent. US Bank N. A. and California Bank and Trust acted as co-documentation agents.
AeroCentury is an aircraft operating lessor and finance company specializing in leasing regional aircraft and engines utilizing triple net leases. The company´s aircraft and engines are leased to regional airlines and commercial users worldwide. Its website is at http://www.aerocentury.com.